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How to solve this question on Microsoft Excel The annual commissions earned by sales representatives of Machine...

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Statistics

How to solve this question on Microsoft Excel

The annual commissions earned by sales representatives ofMachine Products Inc., a manufacturer of light machinery, followthe normal distribution. The mean yearly amount earned is $40,000and the standard deviation is $5000.

a. What percentage of sales representatives earn between $32,000and $42,000 per year?

b. What percentage of sales representatives earn more than$42,000 per year?

c. The sales manager wants to award the sales representativeswho earn the largest commissions a bonus of $1000. He can award abonus to 20% of the representatives. What is the cutoff pointbetween those who earn a bonus and those who do not?

Answer & Explanation Solved by verified expert
4.5 Ratings (795 Votes)
Mean 40000 sd 5000a P32000 x 42000 Px 42000 Px 42000Normdist provides area    See Answer
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